Princeton Bancorp, Inc. (NASDAQ:BPRN) Short Interest Up 20.7% in February

Princeton Bancorp, Inc. (NASDAQ:BPRN) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 29,700 shares, an increase of 20.7% from the January 31st total of 24,600 shares. Based on an average daily volume of 9,600 shares, the short-interest ratio is presently 3.1 days. Approximately 0.6% of the company’s shares are sold short.

Insider Activity at Princeton Bancorp

In other Princeton Bancorp news, Director Martin Tuchman purchased 22,000 shares of Princeton Bancorp stock in a transaction that occurred on Tuesday, February 11th. The shares were bought at an average price of $32.71 per share, for a total transaction of $719,620.00. Following the acquisition, the director now directly owns 629,141 shares in the company, valued at approximately $20,579,202.11. This trade represents a 3.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 23.00% of the stock is owned by company insiders.

Institutional Trading of Princeton Bancorp

A number of hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC boosted its position in shares of Princeton Bancorp by 1.9% in the 4th quarter. Empowered Funds LLC now owns 32,772 shares of the company’s stock worth $1,128,000 after purchasing an additional 600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Princeton Bancorp by 6.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,950 shares of the company’s stock worth $377,000 after purchasing an additional 633 shares in the last quarter. State Street Corp boosted its position in shares of Princeton Bancorp by 1.0% in the 3rd quarter. State Street Corp now owns 70,670 shares of the company’s stock worth $2,613,000 after purchasing an additional 733 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Princeton Bancorp by 6.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 14,073 shares of the company’s stock valued at $520,000 after acquiring an additional 860 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Princeton Bancorp by 38.6% in the 4th quarter. Wells Fargo & Company MN now owns 3,222 shares of the company’s stock valued at $111,000 after acquiring an additional 898 shares in the last quarter. 43.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BPRN shares. Janney Montgomery Scott upgraded Princeton Bancorp from a “neutral” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Tuesday, February 4th. Hovde Group started coverage on Princeton Bancorp in a report on Tuesday, November 19th. They set a “market perform” rating and a $40.00 target price on the stock.

Princeton Bancorp Stock Performance

BPRN stock opened at $31.56 on Friday. Princeton Bancorp has a fifty-two week low of $29.02 and a fifty-two week high of $39.35. The business’s 50 day moving average price is $32.64 and its two-hundred day moving average price is $35.32. The company has a market capitalization of $216.15 million, a price-to-earnings ratio of 18.79 and a beta of 0.54.

Princeton Bancorp (NASDAQ:BPRN) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.11). Sell-side analysts forecast that Princeton Bancorp will post 3.35 earnings per share for the current year.

Princeton Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 5th were given a $0.30 dividend. The ex-dividend date was Wednesday, February 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.80%. Princeton Bancorp’s dividend payout ratio is currently 71.43%.

About Princeton Bancorp

Princeton Bancorp, Inc operates as the bank holding company for The Bank of Princeton that provides various banking products and services. It accepts various deposit products, including checking, savings, attorney trust, and money market accounts, as well as certificates of deposit. The company also offers traditional retail banking services, one-to-four-family residential mortgage loans, multi-family and commercial mortgage loans, construction loans, and commercial business loans, as well as consumer loans, including home equity loans and lines of credit.